Sheridan Centre Inc. sells Frisbees. In 2022, the company produced 3,000,000 units but sold only 2,500,000...

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Sheridan Centre Inc. sells Frisbees. In 2022, the company produced 3,000,000 units but sold only 2,500,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2022 were as follows: Variable costs per unit: Direct materials Direct labour $0.45 0.08 Variable manufacturing overhead 0.17 Variable selling and administrative expenses 0.22 Annual fixed costs and expenses: Manufacturing overhead $360,000 Selling and administrative expenses 330,000 Prepare an income statement using absorption costing. SheridanCentre Inc. Income Statement Absorption Costing Prepare an income statement using absorption costing. SheridanCentre Inc. Income Statement Absorption Costing $ $ Prepare an income statement using variable costing. SheridanCentre Inc. Income Statement Variable Costing Sheridan Centre Inc. sells Frisbees. In 2022, the company produced 3,000,000 units but sold only 2,500,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2022 were as follows: Variable costs per unit: Direct materials Direct labour $0.45 0.08 Variable manufacturing overhead 0.17 Variable selling and administrative expenses 0.22 Annual fixed costs and expenses: Manufacturing overhead $360,000 Selling and administrative expenses 330,000 Prepare an income statement using absorption costing. SheridanCentre Inc. Income Statement Absorption Costing Prepare an income statement using absorption costing. SheridanCentre Inc. Income Statement Absorption Costing $ $ Prepare an income statement using variable costing. SheridanCentre Inc. Income Statement Variable Costing

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